According to the report, the Delhi government had an outstanding debt of Rs 25,338.96 crore in 2007-08, which was equal to 16.79 per cent of its gross state domestic product (GSDP). In 2017-18, the outstanding debt has increased to Rs 33,569 crore.
Economic Survey 2017-18 highlights: The recent projection by the World Bank shows that the Indian economy is expected to grow at 7.3 per cent while the International Monetary Fund (IMF) has pegged it at 7.4 per cent in FY 2018-19.
The Chief Economic Adviser, Dr Arvind Subramanian addressing on Economic Survey 2016-17 also spoke about the newly implemented Goods & Services Tax and said it to be an "astonishing feat of administration, politics and technology."
It dubbed the current low level of inflation "a historic moment", instilling confidence in price stability. According to the Survey, CPI inflation declined to 4.5 per cent during 2016-17, with a broad-based price decline in all major commodity groups. It has been below 4 per cent for the past eight months.
Economic Survey: CEA Arvind Subramanian said today that the Centre won't relax fiscal borrowing limit of states. To accommodate loan waiver states to cut expenditure/raise taxes, it'll be deflationary.
The Economic Survey, which was tabled by the government in Parliament on Friday, raises concerns about farm loan waivers saying that they could reduce aggregate demand by as much as 0.7 per cent of GDP, imparting a significant deflationary shock to the economy.
New Delhi, Feb 26 (ANI): Copies of the Economic Survey, to be tabled on Friday, have been brought to the Parliament. Union Finance Minister Arun Jaitley on Friday will present the Economic Survey for 2016-2017 in the Parliament. The Economic Survey is the Finance Ministry's view on the annual economic development of the country that gives a broad idea on the macro-economic data, which will impact the budget decisions.